The total valuation of the companies featured in Forbes Turkey’s ‘Venture 50’ survey has reached $4 billion (143.4 billion TL), with total investments amounting to $788 million (27.9 billion TL).
Forbes Turkey launched the ‘Venture 50 Index’ in June to identify the next wave of unicorns and high-growth startups with the potential for substantial value appreciation. Since its first edition in 2019, the index has assessed startups based on financial performance, growth rates, and total investment received.
Top 10 Startups in Forbes Turkey’s ‘Venture 50’ (2024)
- Colendi
- DgPays
- Midas
- Sipay
- Param
- Arf
- Picus Security
- EasyCep
- Züber
- Grand Games
Turkish Startup Ecosystem Sees Strong Recovery in 2024
Following a challenging 2023, marked by earthquakes and elections, Turkey’s startup ecosystem experienced a strong rebound in 2024, driven by fintech and mobile gaming.
According to Startup Watch data:
- Total startup investment in Turkey reached $1.1 billion (39.4 billion TL) in 2023, reflecting a 12-fold growth compared to pre-pandemic levels.
- Transaction volume rose by 31%, with 469 funding rounds recorded.
- 2024 became a ‘year of opportunities’, with an increase in public offerings, acquisitions, and exits.
The Forbes Venture 50 Summit indicated that Turkey’s next unicorns will likely emerge from the fintech sector, further solidifying the country’s position as a growing hub for innovation and investment.
Startups considered for the index must have an office in Turkey and must have received investment at least one year after their founding.